Butensky & Cohen Financial Security Inc. Decreases Holdings in Nucor Co. (NYSE:NUE)

Butensky & Cohen Financial Security Inc. cut its holdings in shares of Nucor Co. (NYSE:NUE) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,425 shares of the basic materials company’s stock after selling 608 shares during the quarter. Nucor makes up 1.5% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 28th largest holding. Butensky & Cohen Financial Security Inc.’s holdings in Nucor were worth $4,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in shares of Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after acquiring an additional 155,109,984 shares during the period. BlackRock Inc. grew its stake in shares of Nucor by 0.8% during the 1st quarter. BlackRock Inc. now owns 22,263,001 shares of the basic materials company’s stock worth $3,438,966,000 after acquiring an additional 170,412 shares during the period. FMR LLC grew its stake in shares of Nucor by 9.6% during the 1st quarter. FMR LLC now owns 8,705,904 shares of the basic materials company’s stock worth $1,344,801,000 after acquiring an additional 762,269 shares during the period. Geode Capital Management LLC grew its stake in shares of Nucor by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock worth $841,209,000 after acquiring an additional 23,366 shares during the period. Finally, Morgan Stanley grew its stake in shares of Nucor by 30.0% during the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after acquiring an additional 979,824 shares during the period. Institutional investors own 77.76% of the company’s stock.

Nucor Stock Up 0.5 %

Shares of NYSE NUE opened at $156.19 on Monday. Nucor Co. has a 12 month low of $102.86 and a 12 month high of $182.68. The company has a current ratio of 3.82, a quick ratio of 2.41 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $38.85 billion, a price-to-earnings ratio of 7.18 and a beta of 1.61. The business has a 50-day moving average of $168.04 and a 200-day moving average of $155.96.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 24th. The basic materials company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.59 by $0.22. Nucor had a return on equity of 28.00% and a net margin of 14.81%. The company had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the previous year, the firm earned $9.67 earnings per share. Nucor’s revenue was down 19.3% on a year-over-year basis. Sell-side analysts expect that Nucor Co. will post 18.55 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.31%. Nucor’s payout ratio is 9.42%.

Insider Buying and Selling

In related news, EVP Douglas J. Jellison sold 5,194 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.92, for a total value of $898,146.48. Following the completion of the sale, the executive vice president now owns 139,326 shares in the company, valued at approximately $24,092,251.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $170.54, for a total value of $1,705,400.00. Following the completion of the sale, the executive vice president now owns 84,273 shares in the company, valued at approximately $14,371,917.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas J. Jellison sold 5,194 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.92, for a total value of $898,146.48. Following the completion of the sale, the executive vice president now owns 139,326 shares of the company’s stock, valued at approximately $24,092,251.92. The disclosure for this sale can be found here. Insiders sold 62,320 shares of company stock worth $10,584,084 in the last quarter. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NUE. JPMorgan Chase & Co. increased their price target on Nucor from $150.00 to $151.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Wolfe Research raised Nucor from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 1st. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Monday. Citigroup lifted their target price on Nucor from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 27th. Finally, BNP Paribas raised Nucor from a “neutral” rating to an “outperform” rating and set a $191.00 target price for the company in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $161.00.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.